Lahore, September 27, 2018 (PPI-OT): 786 Investments Limited (Formerly: Dawood Capital Management Limited) has shown interest in acquiring the only mutual fund (First Capital Mutual Fund) of First Capital Investments Limited. The legal process has been initiated. First Capital Investments Ltd is waiting for the relevant regulatory approvals (particularly from SECP). Notably, both parties intend to conclude the transaction in a timely manner.
Noting the expected change in ownership and related acquisition process, PACRA has placed the ratings of First Capital Investments Limited on Rating Watch and would monitor the related developments. Rating would be reviewed once it is settled.
For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com